1.4k purchase -utilisation calculation please.

Dandytf

I've recently made 0% purchase 1.4k using rbs up to 20 mths interest free, with plan to re pay over 2 or 3 payments/6 months approx.
If i refer to Experian, total combined limits are 21550 approx.
I was using 1%/268 utilisation.

What % is my new utilisation.

thanks

[Deleted User]

https://www.calculator.net/percent-calculator.html

Dandytf

Deleted_User said:

https://www.calculator.net/percent-calculator.html

so 268 is 1.24%
latest 1430 is 6.6%

that's excellent, I'll continue with re payment plan and possibly clear before 2022 windows finance.

thanks

Dandytf

some relevant data using today's info.
Bip-1200-45.52

rbs 4850-1430

Tymit 1000-33.50

Virgin Money 1800-63.50

=1572.52

Amex-1700/0

Amazon Newday-3750/0

Barclaycard 850/0

Nationwide 3000-0

rbs 3600-0

Tesco 600/0

22350 is latest 2021 combined limits.

ItsComingRome

If you open up a few new cards that should drop your utilisation a bit.

born_again

Makes no difference to a lender. All they look at is your payment history & debt to income ratio.

eskbanker

born_again said:

Makes no difference to a lender. All they look at is your payment history & debt to income ratio.

If you're suggesting that no lenders look at credit utilisation, that seems like a generalisation that's at odds with received wisdom on this site and elsewhere....

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

However, some lenders will be looking for your credit utilisation – this is a fancy way of saying how much of the credit available to you are you using. It's best to aim for a figure around 25% or less (and it's best if it's not all concentrated on one card).

Lenders don't want your utilisation ratio to be 100% (in simple terms, you're maxed out) – it's a sign you're desperate for credit, and that you can't pay up. But they also don't want you to be using no credit – to have a utilisation ratio of 0%.

Dandytf

This could mean anything between 6-9% utilisation, though  smaller groceries  are re paid in full.
I'm not going anywhere near 25% or higher, only this 1.5k to clear fast.
I want to priorities windows finance from 2022 which could take a few years.

thanks mser's

born_again

eskbanker said:

born_again said:

Makes no difference to a lender. All they look at is your payment history & debt to income ratio.

If you're suggesting that no lenders look at credit utilisation, that seems like a generalisation that's at odds with received wisdom on this site and elsewhere....

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

However, some lenders will be looking for your credit utilisation – this is a fancy way of saying how much of the credit available to you are you using. It's best to aim for a figure around 25% or less (and it's best if it's not all concentrated on one card).

Lenders don't want your utilisation ratio to be 100% (in simple terms, you're maxed out) – it's a sign you're desperate for credit, and that you can't pay up. But they also don't want you to be using no credit – to have a utilisation ratio of 0%.

 Debt to income ratio. Covers it.

But look at the OP's history.

eskbanker

born_again said:

eskbanker said:

born_again said:

Makes no difference to a lender. All they look at is your payment history & debt to income ratio.

If you're suggesting that no lenders look at credit utilisation, that seems like a generalisation that's at odds with received wisdom on this site and elsewhere....

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

However, some lenders will be looking for your credit utilisation – this is a fancy way of saying how much of the credit available to you are you using. It's best to aim for a figure around 25% or less (and it's best if it's not all concentrated on one card).

Lenders don't want your utilisation ratio to be 100% (in simple terms, you're maxed out) – it's a sign you're desperate for credit, and that you can't pay up. But they also don't want you to be using no credit – to have a utilisation ratio of 0%.

 Debt to income ratio. Covers it.

But look at the OP's history.

OP's (undoubtedly extensive) history is irrelevant to the question of which data and ratios are (generically) considered by lenders - debt to income ratio is undoubtedly one measure, but you seemed to be asserting that credit utilisation isn't used, which isn't my understanding.  Debt to income indicates how far stretched an applicant already is, but utilisation is a measure of how much further into debt they could go, which I understood to be important to many (most?) lenders when assessing risk.

Dandytf

born_again said:

eskbanker said:

born_again said:

Makes no difference to a lender. All they look at is your payment history & debt to income ratio.

If you're suggesting that no lenders look at credit utilisation, that seems like a generalisation that's at odds with received wisdom on this site and elsewhere....

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

However, some lenders will be looking for your credit utilisation – this is a fancy way of saying how much of the credit available to you are you using. It's best to aim for a figure around 25% or less (and it's best if it's not all concentrated on one card).

Lenders don't want your utilisation ratio to be 100% (in simple terms, you're maxed out) – it's a sign you're desperate for credit, and that you can't pay up. But they also don't want you to be using no credit – to have a utilisation ratio of 0%.

 Debt to income ratio. Covers it.

But look at the OP's history.

i prefer to refer to refer to my mser Sig.

thanks